Crypto Price Analysis 3-25: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, RIPPLE: XRP, ALGORAND: ALGO, BITTENSOR: TAO, FILECOIN: FIL

The crypto market registered a marginal increase over the past 24 hours as prices steadied, with its current market cap at $2.83 trillion. Bitcoin (BTC) reached an intraday peak of $88,635 before declining and steadying itself around $86,500. The flagship cryptocurrency has been marginally down over the past 24 hours. Ethereum (ETH) is marginally up as it attempted to move past $2,100. 

However, the world’s second-largest cryptocurrency has been unsuccessful so far, reaching a peak of $2,099 before declining to its current level of $2,045. Solana (SOL) has registered a marginal increase and is trading around $138. 

Markets have not seen much movement during the ongoing session. Ripple (XRP) is down over 1%, while Dogecoin (DOGE) is up over 4%, trading at $0.182. Cardano (ADA) is up 0.50%, while Chainlink (LINK) has registered a marginal increase to push above $15. Stellar (XLM), Hedera (HBAR), and Avalanche (AVAX) are also marginally up. However, Toncoin (TON), Polkadot (DOT), and Litecoin (LTC) are trading in the red. 

IMF Officially Begins Tracking Bitcoin (BTC) 

The International Monetary Fund (IMF) published the seventh edition of its Balance of Payments Manual (BPM7) on March 20. The latest edition marked the first time cryptocurrencies, including Bitcoin (BTC), have been integrated into global standards for tracking cross-border economic activity. The manual is developed in collaboration with over 160 countries and outlines the statistical rules used by central banks and finance ministries to record trade flows, capital movements, and financial services. The update does not give digital assets legal status or any official backing. However, it marks a crucial step in how governments and international institutions measure crypto-related activities. 

Crypto transactions, which run into trillions of dollars annually, have always been inconsistently reported or not reported at all. This led to significant gaps in economic data and gave a limited view of the scale of crypto’s cross-border impact. BPM7 addresses the problem by providing clear definitions and accounting rules for different digital assets. As a result, Bitcoin and other cryptocurrencies, stablecoins, staking rewards, and NFTs will be tracked alongside other forms of capital flows, investments, and services. 

Acting SEC Chair Urges Move Away From Enforcement 

Mark Uyeda, acting Chair of the Securities and Exchange Commission (SEC), chaired the inaugural session of the agency’s Crypto Task Force roundtable on March 21. The acting SEC Chair urged the commission to move away from regulation through enforcement when dealing with crypto assets. Uyeda argued the SEC must embrace formal rulemaking processes to bring clarity to the digital asset space. 

“This approach of using notice-and-comment rulemaking or explaining the Commission’s thought process through releases – rather than through enforcement actions – should have been considered for classifying crypto assets under the federal securities laws.”

Uyeda also discussed the inconsistent application of the Howey Test, the Supreme Court’s standard to identify investment contracts, and how the inconsistencies complicated the classification of crypto assets. He cited his time as Chief Advisor to the California Corporations Commissioner, arguing that a certificate of deposit with an attached bonus qualified as an investment contract, a position rejected by the court. Uyeda also noted that the legal community remains divided, with some federal circuits requiring pooling of investor funds and pro rata profit distribution while others accept a broader interpretation centered on shared risk. There is also a disagreement on whether the investor’s profits must stem from post-sale efforts by the promoter or if significant actions taken before the sale are sufficient to meet the Howey Test’s threshold. 

“Differences in opinions among various courts is not unusual. After all, a judicial opinion is limited to particular facts and circumstances of that case. When judicial opinions have created uncertainty for market participants in the past, the Commission and its staff have stepped in to provide guidance.”

Mt. Gox Moves $1 Billion In BTC

Defunct cryptocurrency exchange Mt. Gox has moved $1 billion worth of Bitcoin (BTC) into two wallets, according to data from Arkham Intelligence. The address associated with the defunct exchange transferred 893 BTC ($78.11 million) to its hot wallet and 10,608 BTC ($927 million) to a change wallet identified as 1DcoA. The transfers are the latest in a series of on-chain movements of funds that began four weeks ago. The platform moved over $900 million worth of BTC on March 11, and over $1 billion worth of the flagship cryptocurrency. However, unlike previous transfers, the current transfer has not impacted the spot price. 

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) has registered a substantial drop during the ongoing session, with the price down almost 1% after failing to push above $90,000. The flagship cryptocurrency is currently trading at around $86,883. According to a Standard Chartered analyst, traders will be better off treating Bitcoin as a tech stock than a hedge against inflation and volatility, thanks to its high correlation with the Nasdaq. The analyst tested his theory by creating a hypothetical “Mag7B” index, a spin on the “Magnificent 7” index, replacing Tesla with Bitcoin. The Magnificent 7 refers to tech giants Apple, Microsoft, Nvidia, Amazon, Alphabet, Meta, and Tesla. If BTC is added to the mix, its market capitalization makes the flagship cryptocurrency the sixth-largest in the group. 

BTC has been retreating during the ongoing session after failing to reclaim $90,000. Traders also feel less skeptical, with open interest in Bitcoin futures contracts rising by 10% in one day, according to data from CoinGlass. There are over $57 billion worth of open derivatives contracts. The figure had dropped below $45 billion earlier this month. According to the analyst, if Bitcoin was swapped into the Mag7 Index in 2017, it would have outperformed the index by 5%. Additionally, traders who swapped Bitcoin for TSLA over the past seven years would have experienced fewer price fluctuations. 

“Perhaps more important than returns is Mag 7B’s lower volatility relative to Mag 7 every year. Over the full period, average annualized volatility is almost 2% lower for Mag 7B than for Mag 7.”

Stock correlations have been a hotly contested topic among Bitcoin investors. In late 2024, BTC appeared to break away from gold and equities, completely outperforming every asset class. 

“Furthermore, during the period since President Trump’s inauguration on January 20, BTC has traded like most of the Mag 7 stocks. If we compare price declines against [volume] levels over this period, BTC trades in a similar vol-adjusted fashion to NVDA, while TSLA trades a lot like ETH.”

BTC started the previous weekend on a bullish note, rising almost 4% to move past the 200-day SMA and reach an intraday high of $85,363 before settling at $84,002. Buyers retained control on Saturday as the price registered a marginal increase and settled at $84,398. However, BTC lost momentum on Sunday, dropping over 2%, slipping below the 200-day SMA and settling at $82,611. Buyers returned to the market on Monday as BTC rose almost 2% and settled at $84,016. Selling pressure intensified on Tuesday as BTC fell to an intraday low of $81,187 before settling at $82,725, ultimately registering a drop of 1.54%. Markets rallied on Wednesday following the FOMC meeting. As a result, BTC surged over 5%, going past the 20 and 200-day SMAs and settling at $86,875.

Source: TradingView

However, the rally lost momentum on Thursday, and BTC dropped over 3%, slipping below the 20 and 200-day SMAs and settling at $84,215. Price action remained muted on Friday and Saturday as BTC registered marginal declines to settle at $83,822. However, sentiment changed on Sunday as BTC rallied, rising almost 3% to cross the moving averages and settle at $86,116. Bullish sentiment persisted on Monday as BTC set its sights on $90,000. The flagship cryptocurrency surged to an intraday high of $88,824 before settling at $87,523, ultimately registering an increase of almost 2%. The current session saw BTC down by nearly 1% as sellers looked to lower the price. If buyers can retake control, BTC could reclaim $90,000. However, if sellers continue to exert control, BTC could slip below $85,000 or lower. 

Ethereum (ETH) Price Analysis 

Ethereum (ETH) is down almost 1% during the ongoing session as it struggles to stay above the key $2,000 level. ETH had rallied since the weekend, going past $2,000 on Monday. However, it has lost momentum since, with sellers looking to drive the price below $2,000. According to analysts from Standard Chartered, ETH is stuck in limbo after giving away its value for free to Layer2 networks and is struggling to attract investor interest. The world’s second-largest cryptocurrency has dropped over 40% in three months, leading analysts to state it is facing a “midlife crisis.”

“It's hard to get too excited about amazing feats of engineering when there [are] so many competing things now in the attention economy.”

Ethereum’s developers are also struggling with internal disagreements, while user activity has stagnated. Carol Alexander, Finance Professor at the University of Sussex, stated that Ethereum’s decentralized finance vision feels much further away now than a year ago, and decision-making in the Ethereum community was a bit of a shambles. 

ETH started the previous week on a bullish note, rising over 2% and settling at $1,928. The price registered a marginal increase on Tuesday despite facing selling pressure, and settled at $1,933. Bullish sentiment intensified on Wednesday as ETH surged over 6% to reclaim $2,000 and settle at $2,058. However, buyers lost momentum after reaching this level thanks to the 20-day SMA, which acted as a dynamic resistance level. As a result, ETH dropped almost 4% on Thursday, slipping below $2,000 and settling at $1,983. Sellers retained control on Friday as the price fell nearly 1% and settled at $1,965.

Source: TradingView

Sentiment changed over the weekend as buyers returned to the market. As a result, ETH registered an increase of almost 1% on Saturday and settled at $1,981. The price continued to push higher on Saturday, rising 1.33% to reclaim $2,000 and settle at $2,007. Bullish sentiment intensified on Monday as the price rose almost 4%, moving past the 20-day SMA and settling at $2,082. The current session sees ETH marginally down after buyers lost momentum. Sellers are looking to drive ETH below $2,000. If the price dips below this level, it could decline to $1,800.

Solana (SOL) Price Analysis

Solana (SOL) is looking to continue its rally and push towards $150 as buying pressure returns. SOL had plunged over 7% on Sunday after failing to go past the 20-day SMA and settled at $126. Buyers returned to the market on Monday, and SOL registered an increase of 1.58% and settled at $128. However, SOL was back in the red on Tuesday, dropping over 2% and settling at $125. Bullish sentiment returned on Wednesday as markets rallied after the FOMC meeting. As a result, SOL surged over 8%, reclaiming $130 and settling at $135. However, SOL could not move past the 20-day SMA and dropped almost 6% on Thursday, slipping below $130 and settling at $127.

Source: TradingView

Despite the bearish sentiment, SOL registered a marginal increase on Friday and settled at $128. Saturday saw another marginal increase before a rally on Sunday, taking SOL past $130 and the 20-day SMA to $132. Bullish sentiment intensified on Monday as SOL rallied over 6% to cross $140 and settle at $141. The current session sees SOL up almost 1% as it sets its sights on $150. The RSI sits above the neutral zone while the MACD is bullish, indicating buyers have the upper hand.

Ripple (XRP) Price Analysis

Ripple (XRP) started the previous week on a bullish note, rising almost 2% and settling at $2.34. Selling pressure intensified on Tuesday as XRP fell to an intraday low of $2.22 before recovering and settling at $2.28, ultimately registering a drop of over 2%. XRP rallied on Wednesday as the broader market turned bullish. As a result, XRP surged over 11%, going past the 20 and 50-day SMAs and settling at $2.54. However, the rally was short-lived and XRP was back in the red on Thursday, dropping over 4%, slipping below the 50-day SMA, and settling at $2.43.

Source: TradingView

Sellers retained control on Friday as the price fell over 2% and settled at $2.38. The price continued to drop on Saturday, registering a marginal decline and settling at $2.37. Sentiment changed on Sunday as XRP rose almost 3% and settled at $2.44. The price registered a marginal increase on Monday, crossing the 50-day SMA to settle at $2.45. The current session sees XRP marginally down as buyers and sellers struggle to establish control. Sellers will look to drive the price below the moving averages and $2.40. On the other hand, buyers will look to retake control and drive XRP towards $2.50.

Algorand (ALGO) Price Analysis

Algorand (ALGO) started the previous week positively, rising over 3% and settling at $0.191. However, the price was back in the red on Tuesday, falling almost 3% and settling at $0.186. Buyers returned to the market on Wednesday as ALGO surged over 7% and settled at $0.199. Despite Wednesday’s positive sentiment, ALGO was back in the red on Thursday, dropping over 2% and settling at $0.195. Selling pressure intensified on Friday as the price fell over 4% and settled at $0.187.

Source: TradingView

The weekend saw a recovery as ALGO registered a marginal increase on Saturday, rising over 2% on Sunday to settle at $0.191. Bullish sentiment intensified on Monday as ALGO surged over 6%, crossing the 20-day SMA and settling at $0.203. The current session sees ALGO up over 2% and trading at $0.208 as buyers look to push the price higher.

Bittensor (TAO) Price Analysis

Bittensor (TAO) has continued to push higher during the ongoing session after breaking out of its trading range over the weekend. If buyers can retain control, TAO could rally to $300. TAO registered a substantial increase last Monday, rising over 5% and settling at $254. Selling pressure returned on Tuesday as the price fell almost 3%, slipping below $250 and settling at $247. Buyers returned to the market on Wednesday as TAO rose 6.40% and settled at $262. However, it lost momentum on Thursday, dropping over 4% and settling at $251.

Source: TradingView

Sellers retained control on Friday as TAO fell over 2%, slipping below $250 and settling at $246. Sentiment changed over the weekend, and TAO registered a marginal increase on Saturday. Bullish sentiment intensified on Sunday as TAO rose almost 4% to reclaim $250 and settle at $257. Buyers retained control on Monday as TAO registered an increase of 4.37% to go past the 20-day SMA and settle at $268. The current session sees TAO up almost 2% and trading at $273.

Filecoin (FIL) Price Analysis

Filecoin (FIL) has been trading in a steady upward trajectory since falling to a low of $2.44 on March 11. However, it struggled to push beyond $3 last week after encountering stubborn resistance at this level. FIL surged over 6% last Monday to settle at $3.02. However, it was back in the red on Tuesday, slipping below the 20-day SMA and $3 and settling at $2.92, but not before dropping to a low of $2.82. Bullish sentiment returned Wednesday as FIL surged past the 20-day SMA to reclaim $3 and settle at $3.10. However, the rally was short-lived, and FIL was back in the red on Thursday, dropping almost 2% and settling at $3.05.

Source: TradingView

Bearish sentiment intensified on Friday as the price plunged almost 5%, slipping below $3 and the 20-day SMA and settling at $2.90. Sentiment changed on Saturday as FIL rallied nearly 3%, reaching an intraday high of $3.06 before settling at $2.99. Buyers retained control on Sunday as the price rose 1.17% to end the weekend at $3.02. FIL started the current week on a bullish note, rising over 3% to reach an intraday high of $3.20 before settling at $3.12. The current session sees FIL marginally down as buyers and sellers struggle to establish control. Buyers will look to retake control and push FIL past the 50-day SMA. On the other hand, sellers will look to drive the price below $3.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.